AirAsia profits rise in Q2
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Malaysian low-cost carrier, AirAsia, has posted a MYR139.2 million (US$39.5 million) net profit for the second quarter of 2009, up from MYR9.4 million in the same period last year. According to a ChannelNewsAsia report, this was largely down to higher passenger numbers, leading to an 8% jump in revenue to MYR657.4 million. Lower fuel costs also contributed to the result. For the first half, the airline posted a net profit of MYR342.3 million compared to MYR170.7 million in the same period last year.
“Revenue for the quarter grew by 8% to MYR657 million, driven by robust passenger growth and ancillary income,” AirAsia’s Chief Executive Officer, Tony Fernandes, was reported saying in a statement. “Our results stand in stark contrast to those of most legacy carriers in these troubled economic times. While major legacy carriers are cutting flights, grounding planes, retrenching staff and reporting massive losses, AirAsia is, on the contrary, seeing rising demand, adding more routes, increasing frequency and securing higher profits.”
AirAsia said that during the first half, it carried 6.67 million passengers, up 22% year-on-year, while its load factor was 72.3%, slightly down on the 73.7% seen in H1 2008. The AirAsia statement added that it expected demand to “remain positive” in the third quarter.
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